CURITIBA, Brazil, March 18, 2021 /PRNewswire/ -- Companhia Paranaense de Energia - Copel (NYSE: ELPVY, ELP / Latibex: XCOP / B3: CPLE3, CPLE5, CPLE6), a company that generates, transmits, distributes and sells power, announces its results for the fourth quarter of 2020 and would like to invite you all for its conference call on Thursday to discuss its results.
In 4Q20, earnings before interest, taxes, depreciation and amortization reached R$ 1,308.7 million, 26.5% higher than the R$ 1,034.5 million recorded in 4Q19. This result is basically due to the 82.5% growth in the "electricity sales to distributors" line, mainly due to the commercialization of 564 GWh of energy produced by UTE Araucária ("UEGA") in 4Q20 and the higher volume of energy sold in bilateral contracts by Copel Mercado Livre; (ii) the 14.7% increase in the "use of the main distribution and transmission grid" line, a consequence of the 3.3% growth in the distributor's grid market and the periodic tariff review and tariff readjustment in transmission contracts , and by the net record of R$ 178.2 million in reversals in the "provisions and reversals" line, partially offset by the 32.5% increase in "electricity purchased for resale". Excluding non-recurring items, adjusted EBITDA was R$ 1,489.1 million, 50.6% higher than that recorded in 4Q19.
The complete release is available at the Company's website: ir.copel.com
Conference Call: March 18, 2021 – THURSDAY
English: 13:00 p.m. – UST
Dial in number: +1 646 843 6054
Access Code: Copel
(Simultaneous translation into English)
Live webcast at ir.copel.com
Contacts: Investor Relations – COPEL
Phone: (55 41) 3331-4011
SOURCE Copel - Companhia Paranaense de Energia